The role of wearable technology in business

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Lots of firms are already riding the wearable-tech wave to improve services for their customers.

Wearable technology, such as smartwatches and virtual reality (VR) headsets, has caught the public’s imagination, with millions of devices sold already.

And the proliferation of these devices is set to grow, according to analyst CCS Insight, which predicts that 96m wearables will be sold this year, worth $10.8bn, rising to 185m and a value of $16.9bn by 2021.

When we think of wearables, we tend to associate them with the consumer space – the Apple Watch and Fitbit have helped put smart bands on our wrists, while gamers are well served on the VR side with headsets such as the Oculus Rift.

But what about the business space? How can organisations take advantage of the wearable-technology trend to improve the customer experience and, subsequently, their bottom line?

A golden opportunity

This was the question travel company Carnival began to mull over a few years ago when it was considering how it could tempt a new set of holidaymakers onto its cruise ships. Its Ocean Medallion, a token about the size of a 10p piece, has been designed to replace smartphones, credit cards and other devices once a customer has boarded a ship.

Guest experience: a Princess Cruises Ocean Medallion

The token can be worn on a wristband, chain or carried in a pocket or purse, and will be used for everything from checking in on the ship to paying for goods.

Guests will be able to use the accompanying mobile app to make reservations or pre-order drinks for a show – and as soon as they approach the location, the token will alert staff so they can be seamlessly checked in and served. The housekeeping team will also be alerted when guests are out of the cabin so the cleaning crew can do their daily servicing without disturbing guests.

Princess Cruises have installed 122km of cable, 7,000 sensors and 650 readers to enable this seamless experience, but the firm sees this as a worthwhile investment for establishing a larger base of cruise fans.

“We’re providing guests with the most personalised experience so they really do get to make the best of their time on holiday. We think this is how people will enjoy their holidays in the future, with the level of personalisation they’ve come to expect when they’re shopping on the internet.”

A room with a view

Back on shore, Cardiff-based estate agent Jeffrey Ross has developed its own VR platform to let homebuyers view properties from the comfort of their own sofa.

The firm is taking 3D video footage of its houses for sale and potential buyers can look around the properties using a pair of VR goggles.

Jeffrey Ross is convinced this will help set it apart from the competition, as its VR tour can make people feel like they are walking around the rooms – replacing the usual ‘‘initial viewing’’ and saving customers a lot of time.

By 2025, there will be 500 million VR headsets in use across the globe

There are countless other sectors that can benefit from wearable-technology investment. Hands-free headsets with heads-up display technology are ideal for emergency workers, search-and-rescue teams, and technicians and engineers in the field – allowing them to reach locations, carry out life-saving procedures, or inspect and maintain equipment without having to carry a device by hand.

Endless possibilities

BP’s technology principal Blaine Tookey is a proponent of wearable technology in the field. “This is the revolution we’re looking for, the new paradigm that wearables are going to give oil and gas,” he says. “It will drive automatic situational awareness, [giving] our field workers the right knowledge at the point of work; enabling ‘man down’ to be automatically recognised by colleagues and the control room to action it.”

Even for those businesses not wanting to make their own investments in hardware-like headsets and smart tokens, there are plenty of opportunities relating to the wearables that people already own.

By 2025, there will be 500 million VR headsets in use across the globe, leaving the door open for firms to reach their partners and customers via supporting apps for these devices.

And the smart bands many of us already own have a wealth of potential for organisations willing to invest in supporting software, from patient-monitoring opportunities in the healthcare industry to letting staff log into business applications when away from the office.